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The Blistering Recovery Continues: Week After Macy's, JCPenney Fires 2000, Closes 33 Stores

Tyler Durden's picture




 

A week ago, Macy's fired 2500 and announced the closure of five stores. Moments ago, the company which we have been warning since late 2012 is a melting ice cube that ends in bankruptcy, JCPenney, which a week ago provided the following glib summary "JCPenney reported today that the Company is pleased with its performance for the holiday period", turns out was merely joking and just echoed the Macy's sentiment, announcing the termination of some 2,000 jobs and the closure of 33 stores.

JCPenney today announced that as part of its turnaround efforts, the Company will be closing 33 underperforming stores across the country in order to focus its resources on the Company`s highest potential growth opportunities.

 

These actions are expected to result in an annual cost savings of approximately $65 million, beginning in 2014. In connection with this initiative, the Company expects to incur estimated pre-tax charges of approximately $26 million in the fourth quarter of fiscal 2013 and approximately $17 million in future periods.

 

Remaining inventory in the affected stores will be sold over the next several months, with final closings expected to be complete by early May. The closings will result in the elimination of approximately 2,000 positions. Eligible associates who do not remain with the Company will receive separation benefits packages. Meanwhile, the Company is continuing its plans to open a new store location later this year at the Gateway II development in Brooklyn, N.Y.

 

"As we continue to progress toward long-term profitable growth, it is necessary to reexamine the financial performance of our store portfolio and adjust our national footprint accordingly," said Myron E. (Mike) Ullman, III, chief executive officer of JCPenney.  "While it`s always difficult to make a business decision that impacts our valued customers and associates, this important step addresses a strategic priority to improve the profitability of our stores and position JCPenney for future success."

What can one say but: this is just the kind of recovery that justifies an S&P500 at all time highs.

Investors initially cheered... but now not so much...

 

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Wed, 01/15/2014 - 17:15 | 4335258 Shizzmoney
Shizzmoney's picture

LOLCOVERY

Wed, 01/15/2014 - 17:26 | 4335298 Rainman
Rainman's picture

next up ..Sears

Wed, 01/15/2014 - 17:28 | 4335306 Say What Again
Say What Again's picture

Why has WMT been fading during this recent run up in the "market"

Wed, 01/15/2014 - 17:36 | 4335337 zerozulu
zerozulu's picture

I hope JCpenny will have a closed down sale soon.I need battery cell for my flash light.

Wed, 01/15/2014 - 17:38 | 4335348 superflex
superflex's picture

Didn't you mean FleshLight?

Wed, 01/15/2014 - 18:20 | 4335479 Ying-Yang
Ying-Yang's picture

Even if shutting some of J.C. Penney’s under-performing outlets might seem like a no-brainer, the troubled company has an extra obstacle given most of its stores are within malls.

“Closing stores is probably necessary, but there’s a trap here,” said Mark Cohen, a professor at Columbia Business School and the former CEO of Sears Canada. “In malls, there are restrictive operating covenants. Retailers can’t just decide to close stores.”

These covenants can tie a store down for 20 to 25 years, particularly in regional malls where many J.C. Penney outlets operate. Breaking these agreements can result in multimillion-dollar penalties in some cases, with anchor stores like J.C. Penney (or Macy’s, or Bloomingdale’s) hit hardest if they try to renege.

http://www.forbes.com/sites/clareoconnor/2013/04/12/how-to-save-j-c-penn...

Wed, 01/15/2014 - 18:47 | 4335566 wee-weed up
wee-weed up's picture

 

 

JCP closing 33 stores...

No problemo... ODumbo will just create 33 more Promise Zones!

Wed, 01/15/2014 - 19:03 | 4335604 Rentier
Rentier's picture

My JCP short looking better and better everyday!

Wed, 01/15/2014 - 19:40 | 4335778 Four chan
Four chan's picture

coach is closing 20 stores next month.

Wed, 01/15/2014 - 22:11 | 4336361 MontgomeryScott
MontgomeryScott's picture

Damn, nice 'sales rack' there, Four Chan!

I can't understand why it is surprising that the 'big box' retailers are all closing up. They are forced to sell the same low-quality Chinese crap (well, they weren't FORCED; they BEGGED for it in their purchasing departments, and they GOT what they asked for) as Walmart, Sam's Club, The Dollar Stores (et.al), but they forgot that they can't keep charging the same prices as high-quality merchandise made in other nations (try finding an American-made washing machine, television, or tool, much less shoes or shirts or plates, or glasses or cups or silverware or pillows or blankets or...).

The only thing that surprises ME PERSONALLY is that it has taken SO LONG.

R.I.P., American retailers. The NEW BOSS is in town, and he is NOT a kind one.

Thu, 01/16/2014 - 02:01 | 4336997 Offthebeach
Offthebeach's picture

I was wondering why the hard plastic and large spring. The pain the last three years has been intense.

Wed, 01/15/2014 - 17:42 | 4335361 Its_the_economy...
Its_the_economy_stupid's picture

Maybe 'cause when you walk in their Supestores, noone is there shopping. It has been real quiet on Friday's for about 9 months.

Wed, 01/15/2014 - 19:06 | 4335608 Papasmurf
Papasmurf's picture

They didn't do anything to attract customers back into their store.  Their prices are all over the map from 250% of fair value to deep discounts.  I went into their store after Christmas and looked at shoes.  I found the exact item three stores down for half.  Why would I go back, when I have to question if I paid the right price?  

Wed, 01/15/2014 - 17:53 | 4335383 notquantumdum
notquantumdum's picture

Maybe it's because of this chart:

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=wmt&time=20&startdate=1%2F4%2F1999&enddate=7%2F31%2F2013&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=1&maval=21%2C50%2C100%2C200&uf=7168&lf=268435456&lf2=16777216&lf3=33554432&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=15&x=22&y=16

It's been a fairly boring stock for . . . decades? 

['Except for those who were reinvesting dividends:

http://performance.morningstar.com/stock/performance-return.action?t=WMT&region=usa&culture=en-US&ownerCountry=USA

(Click "expanded view" "compare" and add other stocks to get a better picture) . . . And, even those who reinvested dividends in WMT do not appear to have kept up with the market (as represented by the S&P 500) if one merely bought SPY and reinvested the dividends automatically (over longer periods of time), as most if not all brokers will let you do if you ask them to.

This makes me wonder, if WMT is so evil, how come their share holders don't make more money?]

Wed, 01/15/2014 - 18:13 | 4335450 Handful of Dust
Handful of Dust's picture

JCPenney, which a week ago provided the following glib summary "JCPenney reported today that the Company is pleased with its performance for the holiday period", turns out was merely joking and just echoed the Macy's sentiment, announcing the termination of some 2,000 jobs and the closure of 33 stores.

 

Morbid sense of humor, but I suspect it's just due to the weather, yes?

Wed, 01/15/2014 - 22:57 | 4336551 piceridu
piceridu's picture

The page?

Wed, 01/15/2014 - 17:26 | 4335299 nope-1004
nope-1004's picture

Green chutes...... 5 years on.  F'n joke these central planners are.

 

Wed, 01/15/2014 - 17:20 | 4335263 knukles
knukles's picture

Oh come on, it's the weather and restructuring so the poor employees can get ObieNomics retraining to be productive government employees

Just in fucking time for a Fed Tapertantrum

Booyah motherfuckers!

 

PS  I was at Costco today picking up my life and the dude in front of me (Humorless fuck, I must say.  Didn't enjoy my humming of Dixie) was buying one and one one thing only.  A copy of Jim Cramer's book on how to "Get Rich Carefully."
Huh....
Bulk sales at Costco....

I was gonna ask him if he was planning on selling his daughters on e-Bay or sumptin...
But thought it would not help the poor fellow.
Or me....

Wed, 01/15/2014 - 17:22 | 4335285 Shizzmoney
Shizzmoney's picture

We have a saying in poker: "Don't tap on the aquarium"

Darwin was right.  Let nature figure it out. 

Wed, 01/15/2014 - 17:31 | 4335314 ebworthen
ebworthen's picture

Picking up your life or picking up your Wife?

Cramer, how to "Get Fleeced Carefully", just buy and hold, right Jim?

"Hope springs eternal" as the saying goes.

Bubble Part II swelling larger than Bubble I.

Wed, 01/15/2014 - 17:33 | 4335321 kaiserhoff
kaiserhoff's picture

"If you have a daughter of marriageable age, you should place her in an upstairs window where she can be seen reading or playing a musical instrument.  She is a kind of merchandise."

                                            from the Kama Sutra.

Couldn't make this shit up;)

 

Wed, 01/15/2014 - 17:50 | 4335380 aerojet
aerojet's picture

Fucking India.

Wed, 01/15/2014 - 17:55 | 4335396 kaiserhoff
kaiserhoff's picture

Classic literature,

  and funny as all hell.  Definitely not PC.

Wed, 01/15/2014 - 19:30 | 4335722 25or6to4
25or6to4's picture

@kaiser
The Kama Sutra or Jim Cramers book?

Wed, 01/15/2014 - 19:48 | 4335814 Fredo Corleone
Fredo Corleone's picture

Actually, Knukles, next time give them several bars of, "Rose of Alabama." a poignant tune of Antebellum America. Wonderful melody.

Wed, 01/15/2014 - 17:17 | 4335267 Frostfan1
Frostfan1's picture

JC Penney has nothing to do with any evidence of recovery.  They're just the next Sears.....

 

http://www.youtube.com/watch?v=5087isMudEs

Wed, 01/15/2014 - 18:15 | 4335462 Handful of Dust
Handful of Dust's picture

...33 stores closing...

Bullish for the Dollar Store and Overstock. There'll be tons of crap that needs to be dumped....

Wed, 01/15/2014 - 17:18 | 4335268 666
666's picture

Will anybody notice?

Or care?

Wed, 01/15/2014 - 17:27 | 4335269 jcaz
jcaz's picture

Sprucing up before the BK.......

I see they also put the employees back on commission  again today-  there ya go,  doesn't reek of desperation at all......

"Toby, your new salary is $2/hr plus commission- now get out there and sell!"

Shaniqua will hit the exit door running.......

Wed, 01/15/2014 - 17:44 | 4335369 BandGap
BandGap's picture

Or they are getting lean and mean and going up for sale. Been part of that song and dance before.

Wed, 01/15/2014 - 17:52 | 4335386 aerojet
aerojet's picture

"Did anyone help you today?"  My answer is always an unequivocal 'No' unless the chick is way hot or something.  Making eye contact with me when I walk in the store is not 'being helped.'

Wed, 01/15/2014 - 17:27 | 4335276 Dr. Engali
Dr. Engali's picture

Economic renaissance bitchez! Maybe Zero should consider stop giving speeches. It seems every time he opens his fat trap something bad happens. Ahhhhhh who am I kidding? Expecting Zero to stop talking is like expecting a banker to do the right thing.

Wed, 01/15/2014 - 18:15 | 4335316 DaddyO
DaddyO's picture

Obummer will never take responsibility for any of the things that have happened under his watch, hell He's still in campaign mode.

Just look at the story behind this one in the blog roll, the market is screaming ever higher.

Economic Renaissance my arse, right?

A greenie for the good doctor...

DaddyO

Wed, 01/15/2014 - 17:19 | 4335277 SheepDog-One
SheepDog-One's picture

Useless workers!

Wed, 01/15/2014 - 17:22 | 4335284 101 years and c...
101 years and counting's picture

dammit janet, we need to print moar. 

Wed, 01/15/2014 - 17:36 | 4335330 Dinero D. Profit
Dinero D. Profit's picture

 

Fifty-million unemployed?

Build pyramids!

Wed, 01/15/2014 - 17:47 | 4335373 Its_the_economy...
Its_the_economy_stupid's picture

A portion of pyramid workers daily wage was....wait for it.....2 gallons of beer.

 

http://www.youtube.com/watch?v=aV36ytSgC3o

Thu, 01/16/2014 - 00:57 | 4336904 Tijuana Donkey Show
Tijuana Donkey Show's picture

And room and board. So.... 2 gallons pre or post tax? 2 gallons is about a case of Bud, so, you might be better off as a pyramid worker.

Thu, 01/16/2014 - 04:34 | 4337148 merizobeach
merizobeach's picture

"Build pyramids!"

LOL.  Next build Great Walls!  (I can think of several places for Great Walls... around DC; somewhere near San Luis Obispo--from the ocean to Nevada; around Utah and adjacent outlying Mormon demographic areas (with sovereignty for those within); and around Texas or along the northern borders of OK, AR, TN, and VA, unless MO, KY, WV, MD, and DE wish to be included, (also granting belated indepedence to that rightful nation).  (Good fucking riddance!)  >:-D

Thu, 01/16/2014 - 04:40 | 4337155 merizobeach
merizobeach's picture

Another thought..  America has 50+ million bums on food stamp and other welfares, and China has 50 million too many men...  It's a reality TV Survivor series of bayonet melee until one team outlasts the other!  I'd watch, maybe even PPV (if I had bank card, ha!).

Wed, 01/15/2014 - 17:53 | 4335384 buzzsaw99
buzzsaw99's picture

Planet Schmanet, Janet

You'd better wise up, Janet Weiss

Your apple pie don't taste too nice...

/frank n furter

Wed, 01/15/2014 - 18:29 | 4335491 DaddyO
DaddyO's picture

DiLithium Fiat, Mr. Yellen, we need moar DiLithium Fiat...

Aye Cap'n, I'ma given her all she'll take, anymore and she'll blow us into the Bernanke/Greenspan Hyper-Inflation Zone like a coronal mass ejection...

Just give me moar DiLithium Fiat and let me worry about the blast Mr. Yellen...

DaddyO

 

Wed, 01/15/2014 - 19:32 | 4335730 tricklecreek
tricklecreek's picture

"once again LT Ohura is on the Captains log
life is good.

Out

Wed, 01/15/2014 - 22:03 | 4336333 MontgomeryScott
MontgomeryScott's picture

I dunna ken wha' a DiLithium Fiat is, laddie! Fiats run on Chryslers...if they run at all... (I canna change the laws of physics! The damned contraptions just, WON'T, RUN!)

Thu, 01/16/2014 - 04:44 | 4337158 merizobeach
merizobeach's picture

Yes, thank you!  These are the kind of laughs I used to count on opening up ZH every morning--or afternoon, as my 'mornings' may be.

Wed, 01/15/2014 - 17:23 | 4335287 ebworthen
ebworthen's picture

Somewhere, somehow, someone(s) will say this is bullish.

Wed, 01/15/2014 - 17:31 | 4335312 29.5 hours
29.5 hours's picture

 

Well, that is what the ever-astute JCPenney management is saying. Now they can focus on their high growth potential sectors, you see. Plus the "strategic priorities" thing. Sounds bullish to me.

Wed, 01/15/2014 - 17:34 | 4335323 ebworthen
ebworthen's picture

Fewer stores, fewer customers, less leverage with suppliers; HAS to be bullish.

When they are down to one store that is a sentimental museum of retail they'll do great.

Woolworth's, anyone?

Best Buy next.

Wed, 01/15/2014 - 18:44 | 4335553 ForTheWorld
ForTheWorld's picture

On the flip side, Woolworths is going fabulously well in Australia. Although, it helps when there's only three major supermarkets in the country (Woolworths, Coles and Aldi), with independants closing down, or barely scraping by.

Wed, 01/15/2014 - 17:33 | 4335315 Dr. Engali
Dr. Engali's picture

I'm saying it right here, right now. This is bullish because all these people will be on unemployment, and Nancy the fucking genious Pelosi says that's good for the economy. BTFD!

Wed, 01/15/2014 - 17:27 | 4335290 TruthInSunshine
TruthInSunshine's picture

The tally from the closing of Sears/Kmart, Best Buy, Barnes & Noble, Dicks's Sporting Goods, American Eagle, The GAP, TJX, Abercrombie & Fitch, Radio Shack, Rite-Aid, Lord & Taylor, Nordstrom's, Saks, Bed Bath & Beyond, Ace, a multitude of grocery stores, etc., etc., etc. hasn't even begun to accrue yet.

But it's coming, bitchez!

Wed, 01/15/2014 - 17:35 | 4335328 ihedgemyhedges
ihedgemyhedges's picture

Nahhh.  They'll retrofit the buildings and soon after you will see plenty of Asian nail parlors and Mexican food restaurants..........that's the only boom I know of going around.......

Wed, 01/15/2014 - 17:45 | 4335368 B2u
B2u's picture

Taco Bell.....Yeah !!!!

Wed, 01/15/2014 - 19:03 | 4335602 ForTheWorld
ForTheWorld's picture

Money laundering at its finest. Better Call Saul!

Wed, 01/15/2014 - 17:53 | 4335393 aerojet
aerojet's picture

Just flush it already, quit toying with me!

Wed, 01/15/2014 - 17:24 | 4335291 IridiumRebel
IridiumRebel's picture

Just drove by a Blockbuster. It's closing but thankfully under the "Store Closing" sign it said this store only.

Wed, 01/15/2014 - 17:45 | 4335370 quasimodo
quasimodo's picture

Phew!!!! I was worried as well, where else can a guy rent a movie when he......oh wait. 

I forgot this wasn't 1990 

Wed, 01/15/2014 - 17:30 | 4335296 TruthInSunshine
TruthInSunshine's picture

dt

Wed, 01/15/2014 - 17:26 | 4335297 q99x2
q99x2's picture

It is getting bleak out there. I'm in a uppity section of town and more people dressed nicely are showing up begging and going through the trash cans.

When people are barely surviving it barely takes an extra weight to drive them to the streets.

We are going down.

Times like these brings the Totus out lying like a mofo; as he did yesterday.

Wed, 01/15/2014 - 17:35 | 4335320 walküre
walküre's picture

Armani suits gone dompster diving? Say it ain't so!

I guess it comes with the "uppity" territory. You're such a snob. Even your beggars are wearing D&G. Who is shining their shoes? The unemployed engineers from the not-so-uppity parts of town?

Wed, 01/15/2014 - 17:28 | 4335309 Seasmoke
Seasmoke's picture

Long term unemployment. Hire them back next November. Rinse and Repeat. 

Wed, 01/15/2014 - 17:35 | 4335327 totem
totem's picture

Time to update the lyrics for their annoying 2013 "Deck the Halls" holiday ad:

Doh, doh, doh, doh, doh...

lop lop, lop lop.

Wed, 01/15/2014 - 17:39 | 4335344 You're Wrong
You're Wrong's picture

Are you seriously basing your statement about the economic recovery on the success/failure of JC Penney?  Do you actually know anyone who still shops there?

Wed, 01/15/2014 - 17:43 | 4335365 GrinandBearit
GrinandBearit's picture

Economic reality will eventually slap the market in the face like a large wet dildo.

When it does... bye bye bitches. 

Wed, 01/15/2014 - 18:01 | 4335410 Dinero D. Profit
Dinero D. Profit's picture

 

If the market gets slapped in the face with a large wet dildo, it'll be madder than a pit-bull chewing a wasp.

Wed, 01/15/2014 - 17:52 | 4335387 dobermangang
dobermangang's picture

The 2014 "Going Out of Business" sales have just started.  More coming to a mall near you!

Wed, 01/15/2014 - 18:18 | 4335475 Cattender
Cattender's picture

2014 is going to be GREAT for going out of business sales..

Wed, 01/15/2014 - 17:59 | 4335402 corporatewhore
corporatewhore's picture

jcp deserves to die after being raped by the former management team from Apple.  They did soooooo much damage and spent money like it was silicon valley happy times all over again.  I just started comaring all the shit the poor employees had to endure from these fools, from the return policy idiocy to trying to make a sow's ear (jcp) into a silk ear (nordstrom lite) by rearranging the fucking jeans almost every time some fool wanted to change how they were posed.  The furniture revamp was a fucking disaster.  Dress your daughter like a whore was a disaster from Betsey Johnson and others.

Wed, 01/15/2014 - 18:25 | 4335507 dobermangang
dobermangang's picture

Liberal Ron Johnson was the worst CEO ever.  A fucking arrogant, ignorant prick.  You have to feel sorry for all those JC Penney workers that got fired during the last 2 years.  It could have easily been avoided. 

Wed, 01/15/2014 - 18:39 | 4335542 corporatewhore
corporatewhore's picture

you do have to give the man props for hoodwinking the board for $54 million and an unspecified golden parachute. (sarc)

Thu, 01/16/2014 - 02:02 | 4336998 the0ther
the0ther's picture

There are good CEOs? They all seem like rapists to me.

Wed, 01/15/2014 - 18:04 | 4335420 ncdirtdigger
ncdirtdigger's picture

GREEN SHOOTS,

Wed, 01/15/2014 - 18:14 | 4335459 starman
starman's picture

2014 will be the mother of all lay offs since 2009! Mark my word!

Wed, 01/15/2014 - 22:00 | 4336316 Kelley
Kelley's picture

You are so right. It might be the mother and the grandmother.

Wed, 01/15/2014 - 18:23 | 4335502 Spungo
Spungo's picture

JCP is nowhere near as profitable as PCP.

Wed, 01/15/2014 - 18:34 | 4335528 cheetahbaby
cheetahbaby's picture

Sears is next. The days of gramps going into Sears Automotive to buy a tool seem like a relic of the distant past. Going into an Advance Auto these days resembles a Guatamalan flea market, and yes, there's gramps, in line, wondering if the parts guy speaks English. We are the land of the 20-year old Toyota Corolla here in Northern Virginia, complete with Obama stickers and drivers who wipe their noses with their sleaves.... Sheesh

Wed, 01/15/2014 - 18:37 | 4335537 corporatewhore
corporatewhore's picture

i call Kansas City "havana" because of all the 20 year plus cars driven there.

Thu, 01/16/2014 - 00:59 | 4336909 Tijuana Donkey Show
Tijuana Donkey Show's picture

Wait, you get sleaves? High livin' there.

Thu, 01/16/2014 - 02:01 | 4336995 the0ther
the0ther's picture

Hey if they were 30 year old cars you might be able to fix them yourself just like gramps did...but they'd be rolling death traps...tradeoffs.

Wed, 01/15/2014 - 18:40 | 4335544 Lokking4AnEdge
Lokking4AnEdge's picture

Fantastic for the 2000 fired employees....free unemployment payments and free healthcare...........

What a country!............where do I sign?.............

Wed, 01/15/2014 - 18:40 | 4335547 just-my-opinion
just-my-opinion's picture

Well they have to get all the crap out of the malls so they can be used as FEMA camps...8^)

Wed, 01/15/2014 - 18:46 | 4335557 Dingleberry
Dingleberry's picture

JCP should be used as a classic case of what happens when you do everything in your power to alienate your customer base and replce them with fickle youngsters and assorted alternative lifestyle creatures.

Let. It. Begin.

 

Wed, 01/15/2014 - 19:32 | 4335729 Haloween1
Haloween1's picture

Where can I get a list of these stores?  They have awesome going out of business sales, especially in the final wind down phase.

Thu, 01/16/2014 - 00:01 | 4336755 bilejones
bilejones's picture

Go to the jcp website, underinvestors.

Wed, 01/15/2014 - 19:50 | 4335821 Paracelsus
Paracelsus's picture

The fact remains : The malls are anchored by the big box stores......

If the mall dies (it will) then all the hair salons and coffee shops and boutiques go too...

With all the plywood "For lease" and "Coming soon" posters inside the mall,the retailers will start an unofficial Rent boycott movement,pressuring the mall owner to decrease rents until foot traffic picks up (never...).

The Mall owner consortium share price drops.They try for a bailout......

Wed, 01/15/2014 - 20:49 | 4336066 Make_Mine_A_Double
Make_Mine_A_Double's picture

I drive down to Portland once a month from Seattle to see local clients. I pass the 3 Rivers Mall in Longview WA. It's what I would call a 2-3rd tier mall, but good sized.

Last week when I drove by I noticed they were razing 2 of the wings that had been empty. This is the future I suspect. Now the malls (if they survive at all) are going to downsize in an attempt to appear a going concern instead of some ghost town with kids skateboarding in the parking lot.

Only top tier malls will survive the deluge.

 

Wed, 01/15/2014 - 20:32 | 4335987 Bunga Bunga
Bunga Bunga's picture

Get over it, economic indicators are completely irrelevant in central planning.

Thu, 01/16/2014 - 02:56 | 4337062 Offthebeach
Offthebeach's picture

Central Planning make own economic! Whole purpose. Other wise economic become free and no need for Central Planner. Only through constantly central planning can central planner insure maximum income until early full disability retirement in Costa Rica.

Wed, 01/15/2014 - 20:45 | 4336051 BuddyEffed
BuddyEffed's picture

So JCP hasn't been helpin the BDI much I take it?

Wed, 01/15/2014 - 21:26 | 4336198 are we there yet
are we there yet's picture

I am a physicist and my company is in a medium part of houston, and half a block from me our blockbuster has closed, and across the street our randals grocery of several decades is closing in a month. Its pharmacy closed a month ago. Many of the stores around them are already empty. A few miles away a new discount Sams is opening with thin traffic. I am a business owner and over the years have kept an eye on local storefronts and related race, culture, and age demographics. I look at the people on the street locally and imagine the question 'would I hire that person?' If I would not want them then likely other employers would not as well, so their ability to earn and therefore to spend back into the local economy is low. In short, my 65 year old eyes see lower quality work candidates on a fundamental genetic, and work ethic level as compaired with a few decades ago. In order to see the reality of our future you have to ignore television, ploitical correctness, and anything coming from DC, and rely only on your eyes and the eyes of your friends who only rely on their eyes.

Wed, 01/15/2014 - 21:56 | 4336298 Kelley
Kelley's picture

I agree. Did you know that 30% of today's teens are on one or more prescription medicines long term?

Also, one of the effects of fluoridated water is a lowering of intelligence. It also deforms collegen which is essential for joint and bone health. 

The reason people look fundamentally lower quality than they did a few decades back is that they and we are not as healthy and vibrant as those earlier times. Look at photos from the 30's and 40's. Few people were fat. Today most people are.

When is the last time you saw a wasp-waisted woman? I remember them when I was a teen in the '60's. Women's waists are getting thicker now.

I did see one a few years back in a grocery strore. Turns out she was from Russia working here on a visa, not an American. Saw her again a little while later. Her wasp waste was gone.

 

Thu, 01/16/2014 - 00:15 | 4336803 are we there yet
are we there yet's picture

Yes. I travel to Russia about once a year to lecture and for business.  They still have such women.

I agree with you, but I go further and think that about 4 generations now have been size bread for welfare checks by both men and women that are successively dumber and unable to plan for the future. This dumbing down is at least partly on a genetic level. Watch the movie 'Idiotocracy'

http://www.youtube.com/watch?v=BBvIweCIgwk

Thu, 01/16/2014 - 07:31 | 4337244 Not Goldman Sachs
Not Goldman Sachs's picture

Fewer employees/stores means less operating costs...therefore increased earnings for Q1. Ring out those last bonuses before going under.  The "market" likes it.

You can keep your JCP if you like it...what's left of it.

Thu, 01/16/2014 - 10:12 | 4337534 Youri Carma
Youri Carma's picture

The complete J.C. Penney drama which started already in February 2013 http://forum.prisonplanet.com/index.php?topic=242757.0

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